New Jersey homeowners, get ready for some good news in your mailbox! The state is sending out Stay NJ property tax benefit checks, but you need to be vigilant to ensure you don't miss this valuable relief.
But here's the catch: These payments won't be deposited directly into your account, unlike the ANCHOR payment you might be accustomed to. Instead, the Treasury Department will mail paper checks to eligible homeowners, so keep an eye out for that envelope!
If you don't receive your check this week, don't panic. The state will be rolling out payments over several weeks, so yours could be on the way. With an average installment of $639 and an estimated 438,000 approved homeowners, that's a significant amount of financial support being distributed.
To check the status of your benefit, visit the Treasury website. However, some users have reported issues with the tool, so you may need to be persistent. Look for the 'Check Benefit Status' blue box to find out if your benefit is processing or approved, and if approved, you'll also learn the expected payment date and your eligibility for ANCHOR and/or Senior Freeze.
The calculation for your Stay NJ benefit is based on your ANCHOR and Senior Freeze benefits. If the combined amount is less than half of your property tax bill (up to $6,500), you'll receive an additional Stay NJ payment. This is a great opportunity for homeowners aged 65+ or those receiving Social Security disability benefits, with an income cutoff of $500,000.
And here's where it gets interesting: If you haven't received a 'determination letter' detailing your benefits, you can use the Stay NJ calculator to estimate your relief. This proactive approach ensures you're informed and aware of your financial benefits.
For any questions or further assistance, the state has set up a hotline at (888) 238-1233. Alternatively, you can visit a regional help center for in-person support. No appointment is necessary, but you can schedule one online if you prefer.
Lastly, homeowners can also apply online for the combined ANCHOR, Senior Freeze, and Stay NJ benefits for the upcoming year. While the 2025 benefit year payments are yet to be funded, you can still sign up now to secure your share of this tax relief.
